We report on the development of a terahertz time-domain technique for measuring the momentum relaxation time of charge carriers in ultrathin semiconductor layers. Making use of the Drude model, our phase sensitive modulation technique directly provides the relaxation time. Time-resolved THz experiments were performed on n-doped GaAs and show precise agreement with data obtained by electrical characterization. The technique is well suited for studying novel materials where parameters such as the charge carriers' effective mass or the carrier density are not known a priori.